Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.</li>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the NIFTY 50 and NIFTY Next 50 indices in the September 2024 rebalance.</li>
<li>There could be at least one change for NIFTY 50 and separately, there could be up to five changes for NIFTY Next 50.</li>
</ul>


NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.
In this insight, we take a look at the names leading the race to become ADDs/DELs for the NIFTY 50 and NIFTY Next 50 indices in the September 2024 rebalance.
There could be at least one change for NIFTY 50 and separately, there could be up to five changes for NIFTY Next 50.


Quiddity Leaderboard NIFTY Sep 24: Multiple Names Eligible for NIFTY 50 Addition

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>Government of India raised around US$513m via selling some of its stake in <a href="https://www.smartkarma.com/entities/bharti-hexacom" target="_blank" data-smartkarma-citation="entities:40858:1" rel="noopener">Bharti Hexacom's</a> IPO.</li>
<li>Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India.</li>
<li>We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.</li>
</ul>


Government of India raised around US$513m via selling some of its stake in Bharti Hexacom's IPO.
Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India.
We have covered various aspects of the deal in our previous note. In this note, we will talk about the demand and trading dynamics.


Bharti Hexacom IPO Trading - Strong Insti and Anchor, Retail Gave It a Miss

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>On the IPO front, <a href="https://www.smartkarma.com/entities/hd-hyundai-marine-solution-co" target="_blank" data-smartkarma-citation="entities:41002:1" rel="noopener">HD Hyundai Marine Solution (443060 KS)</a> and <a href="https://www.smartkarma.com/entities/bharti-hexacom" target="_blank" data-smartkarma-citation="entities:40858:1" rel="noopener">Bharti Hexacom</a> were in the market trying to raise over US$500m each.</li>
<li>Placements flow continued unabated this week as well, India, Taiwan and South Korea seeing large blocks.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
On the IPO front, HD Hyundai Marine Solution (443060 KS) and Bharti Hexacom were in the market trying to raise over US$500m each.
Placements flow continued unabated this week as well, India, Taiwan and South Korea seeing large blocks.


ECM Weekly (1st Apr 2024) - Shinhan, GlobalWafers, Mankind, Hyundai Marine, Bharti Hexacom, ChaPanda

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bharti-hexacom" target="_blank" data-smartkarma-citation="entities:40858:1" rel="noopener">Bharti Hexacom</a> is looking to raise up to US$513m in its upcoming India IPO.</li>
<li>Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India.</li>
<li>We have looked at the company's past performance in our earlier notes. In this note, we talk about valutions.</li>
</ul>



Bharti Hexacom is looking to raise up to US$513m in its upcoming India IPO.
Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India.
We have looked at the company's past performance in our earlier notes. In this note, we talk about valutions.


Bharti Hexacom IPO - Unexciting and at a Half-Decent Discount

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ipca-laboratories-ltd" target="_blank" data-smartkarma-citation="entities:15774:1" rel="noopener">Ipca Laboratories (IPCA IN)</a> reported strong Q3FY24 results, with revenue and net profit increasing 33% and 67%, YoY, respectively. Domestic formulation and generic exports remained main growth drivers.</li>
<li>Ipca’s India formulation business revenue is expected to grow 15% YoY to ~INR7,000 million in Q4FY24. The company guided for 13–14% domestic revenue growth in FY25.</li>
<li>Riding on improving profitability at Unichem operation and launch of U.S. product, Ipca is expecting 10–12% growth in EBITDA and 2% improvement in EBITDA margin in FY25.  </li>
</ul>



Ipca Laboratories (IPCA IN) reported strong Q3FY24 results, with revenue and net profit increasing 33% and 67%, YoY, respectively. Domestic formulation and generic exports remained main growth drivers.
Ipca’s India formulation business revenue is expected to grow 15% YoY to ~INR7,000 million in Q4FY24. The company guided for 13–14% domestic revenue growth in FY25.
Riding on improving profitability at Unichem operation and launch of U.S. product, Ipca is expecting 10–12% growth in EBITDA and 2% improvement in EBITDA margin in FY25.  


Ipca Laboratories (IPCA IN): Solid Q3 Result; Mid-Teens Growth Expected in Domestic Revenue in Q4

India

Mankind Pharma Limited develops and delivers pharmaceutical products. The Company distributes antibiotic, antifungal, antiviral, gastrointestinal, cardiovascular, dermal, erectile dysfunction, digestive, gynecological, and therapeutic medical drugs. Mankind Pharma operates in India.

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Mankind Pharma (6596876Z IN)

Quiddity Leaderboard NIFTY Sep 24: Multiple Names Eligible for NIFTY 50 Addition

For NIFTY 50, the top-ranked potential ADD and DEL are Trent Ltd and LTIMindtree respectively. I expect there to be at least one NIFTY 50 change in...

Janaghan Jeyakumar, CFA

Bharti Hexacom IPO Trading - Strong Insti and Anchor, Retail Gave It a Miss

Government of India raised around US$513m via selling some of its stake in Bharti Hexacom's IPO. In this note, we talk about the demand and trading...

Sumeet Singh

ECM Weekly (1st Apr 2024) - Shinhan, GlobalWafers, Mankind, Hyundai Marine, Bharti Hexacom, ChaPanda

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Bharti Hexacom IPO - Unexciting and at a Half-Decent Discount

Bharti Hexacom is looking to raise up to US$513m in its upcoming India IPO. We have looked at the past performance in our earlier note, in this...

Sumeet Singh

Ipca Laboratories (IPCA IN): Solid Q3 Result; Mid-Teens Growth Expected in Domestic Revenue in Q4

Ipca reports strong Q3FY24 results with revenue and net profit up 33% and 67% YoY. The company is expecting continued growth in India formulation...

Tina Banerjee

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52-week Range

Market Cap (USDm)

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Quiddity Leaderboard NIFTY Sep 24: Multiple Names Eligible for NIFTY 50 Addition

For NIFTY 50, the top-ranked potential ADD and DEL are Trent Ltd and LTIMindtree respectively. I expect there to be at least one NIFTY 50 change in...

Janaghan Jeyakumar, CFA

Bharti Hexacom IPO Trading - Strong Insti and Anchor, Retail Gave It a Miss

Government of India raised around US$513m via selling some of its stake in Bharti Hexacom's IPO. In this note, we talk about the demand and trading...

Sumeet Singh

ECM Weekly (1st Apr 2024) - Shinhan, GlobalWafers, Mankind, Hyundai Marine, Bharti Hexacom, ChaPanda

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Bharti Hexacom IPO - Unexciting and at a Half-Decent Discount

Bharti Hexacom is looking to raise up to US$513m in its upcoming India IPO. We have looked at the past performance in our earlier note, in this...

Sumeet Singh

Ipca Laboratories (IPCA IN): Solid Q3 Result; Mid-Teens Growth Expected in Domestic Revenue in Q4

​Ipca reports strong Q3FY24 results with revenue and net profit up 33% and 67% YoY. The company is expecting continued growth in India formulation...

Tina Banerjee

Ipca reports strong Q3FY24 results with revenue and net profit up 33% and 67% YoY. The company is expecting continued growth in India formulation...